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Stock code: 688599 Stock abbreviation: Trina Solar Announcement No.: 2025-025
Convertible bond code: 118031 Convertible bond abbreviation: day 23 convertible bond
Trina Solar Co., Ltd
Announcement on the progress of the company's provision of guarantees
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or material omissions in the content of this announcement, and assume legal responsibility for the authenticity, accuracy and completeness of its content in accordance with the law.
Important Content Notes:
Guarantee occurs from January 24, 2025 to February 28, 2025
Name of Guarantor: Trina Solar Co., Ltd. (hereinafter referred to as the "Company") and its merger
Subsidiaries within the scope of the report
Guarantee amount for the period: RMB3.299 billion
Is there a counter-guarantee for this guarantee: No
There are no related parties of the company among the guarantors.
Cumulative number of overdue external guarantees: The company has no overdue external guarantees
As of the disclosure date of this announcement, the balance of external guarantees of the company and its subsidiaries within the scope of the consolidated statements is
59.508 billion yuan, accounting for 188.78% of the company's latest audited net assets, of which the balance of the guarantee provided by the company to its subsidiaries within the scope of consolidated statements is 57.169 billion yuan.
1. Overview of the guarantee
(1) The new guarantee in the current period
In order to meet the needs of the company's production and operation and working capital turnover, before ensuring that the operation is standardized and the risk is controllable
As a result, the Company and its subsidiaries will be tired during the period from January 24, 2025 to February 28, 2025
The amount of guarantee incurred was 3.299 billion yuan, accounting for 10.47% of the company's latest audited net assets. tool
Please refer to Annex I "Trina Solar Co., Ltd. January 24, 2025 to February 2025".
28-day guarantee details".
(2) Internal decision-making procedures for the performance of guarantees
The company held the 16th meeting of the third board of directors and the third board of supervisors on December 13, 2024
The 10th meeting and the 4th extraordinary general meeting of shareholders in 2024 will be held on December 30, 2024 for separate review
The "Proposal on the Company's Application for Comprehensive Financing Quota and Provision of Guarantee in 2025" was approved, and it was agreed that the Company and its subsidiaries intend to apply for a total credit limit of no more than RMB 140 billion (or equivalent in foreign currency) from banks, insurance companies, financial leasing companies and other financial institutions, and that the maximum amount of guarantee provided by the Company and its subsidiaries within the scope of the consolidated statements shall not exceed RMB 116.5 billion (or equivalent in foreign currency). The actual amount of guarantee shall be subject to the final signed and executed guarantee contract or the approval of the financial institution. The general meeting of shareholders of the company authorizes the signature of the company's legal representative or the person in charge of finance and its authorized person to handle the specific matters of the financing and guarantee within the scope of the comprehensive financing quota and guarantee amount according to the needs of the company's actual business situation. Specific matters such as the guarantee method and guarantee period shall be subject to the guarantee agreement signed between the company and banks and other financial institutions.
This guarantee is within the scope of the guarantee amount approved by the above-mentioned general meeting of shareholders, and there is no need to perform the deliberation procedures of the board of directors or shareholders' meeting again.
2. Basic information of the guarantor
For the basic information of the guarantor, please refer to Appendix 1 "Trina Solar Co., Ltd. January 24, 2025".
Details of the guarantee until February 28, 2025", Annex II "Financial Information of the Guarantor".
3. The necessity and reasonableness of the guarantee
The above-mentioned guarantee items are to ensure that the production and operation needs of the company and its subsidiaries are combined with the current business situation, in line with the actual needs of the company's overall production and operation, and help meet the company's daily capital use and business scope needs. Among the minority shareholders of the company's holding subsidiary, if the guaranteed object is a non-wholly-owned holding subsidiary, the company requires other shareholders other than the company to provide guarantee according to the proportion of shareholdings or other shareholders to provide counter-guarantee to the company according to the proportion of shareholding while the company provides 100% guarantee. Due to the strict approval procedures for external guarantees by state-owned shareholders, the remaining minority shareholders have no ability to provide guarantees, and the company has full control over the holding subsidiaries, and the company has overall controllable guarantee risks.
As of the disclosure date of this announcement, the balance of external guarantees of the company and its subsidiaries within the scope of the consolidated statements was 59.508 billion yuan, accounting for 188.78% of the company's latest audited net assets, of which the balance of guarantees provided by the company to the subsidiaries within the scope of the consolidated statements was 57.169 billion yuan. As of the disclosure date of this announcement, the company has not provided guarantees to the controlling shareholders and actual controllers and their affiliates, and there is no overdue guarantee.
The announcement is hereby made.
Board of Directors of Trina Solar Co., Ltd
March 5, 2025
Appendix I: Details of Trina Solar's Guarantee for the period from January 24, 2025 to February 28, 2025
Unit: 10,000 yuan
Preface The legal representative of the guarantor is involved with the currency current period
No. Guarantor, Director, Business Scope, Guarantor of Listed Company, Financial Institution, Seed Guarantee, Guarantee Method, Guarantee Period, and Counterburden
Relationship Insurance
energy contract; Solar power generation system engineering, wind power station engineering, energy storage
power station engineering design, construction and technical services; Solar power generation equipment, wind energy generation
Electrical equipment, energy storage equipment, energy-saving equipment, environmental protection products, mechanical and electrical equipment, metals
sales of materials and electronic products; Smart city project planning and design, investment and construction
energy efficiency management services; electricity sales; heat supply; carbon emission allowance sales; Loading, bearing
Repair and test of power facilities (with the "Permit for Installation (Repair and Test) of Power Facilities"
approved content management); power engineering design and technical services; Power engineering construction
Changzhou Tianhe Wisdom General Contractor; general contracting of smart city projects; general contracting of energy storage power station project; chemical industry
1 Energy Engineering Co., Ltd. Wang Peng Installation, maintenance and commissioning of equipment, mechanical and electrical equipment; Trina Solar, a wholly-owned subsidiary of Urban and Road Lighting Engineering, has RMB 50,000 Joint and several liability 2025/2/20- No
Company Construction; road transportation of general goods (operating with a license); Energy Application Co., Ltd. Limited Company Changzhou Branch Guarantee 2026/2/19
technology development, technical services, and technical consultation; Self-management and agency of all kinds of goods
and technology import and export business, the state restricts the company to operate or prohibits the import and export of business
Except for products and technologies. (For projects subject to approval in accordance with the law, after approval by relevant departments.)
to carry out business activities)
General items: electronic component manufacturing; sales of photovoltaic equipment and components; electron
research and development of special materials; R&D of high-efficiency and energy-saving technologies in the power industry; Wind farms
R&D; R&D of emerging energy technologies (except for projects subject to approval in accordance with the law
Business license to independently carry out business activities in accordance with the law)
2 Trina Solar (Su Gao Jifan Licensed items: power generation business, power transmission business, power supply (distribution) business (required by law) Wholly-owned subsidiary Trina Solar shares Agricultural Bank of China shares RMB 24,000 Joint and several liability 2025/2/18- No
The project approved by the Optoelectronics Co., Ltd. can only carry out business activities after the approval of the relevant departments, and the specific Co., Ltd. Co., Ltd. Suqian Guarantee 2025/10/23
The company's business projects are subject to the approval results) Jiangsu Tianhe Taisucheng Branch
3. General items: manufacturing of special electronic materials; photovoltaic equipment and components manufacturing; Solar Power Investment RMB 60,000 Joint and several liability 2025/2/18- No
sales of volt equipment and components; import and export of goods; technology import and export; Technical Services, Capital Development Limited Guarantee 2025/10/23
technology development, technical consultation, technology exchange, technology transfer, technology promotion; Electric company
pool manufacturing; battery sales; photovoltaic power generation equipment leasing; Solar Power Technology Services Trina Solar China Merchants Bank Co., Ltd. is jointly and severally liable 2025/2/28-
4 (Except for projects subject to approval in accordance with the law, independently carry out the business with a business license in accordance with the law Co., Ltd. Changzhou Branch RMB 20,000 Guarantee 2026/2/27 No.)
camp activities)
Licensed items: power generation business, transmission business, power supply (distribution) business (required by law.)
Approved projects can only be carried out after approval by relevant departments, specifically
Trina Solar (Su's business projects are subject to the approval results) Agricultural Bank of China shares
5 Relocation) Science and Technology Co., Ltd. Gao Jifan General projects: photovoltaic equipment and components manufacturing; sales of photovoltaic equipment and components; Holding subsidiary Trina Solar Co., Ltd. Suqian RMB 60,000 Joint and several liability 2/18/2025- No
Division of import and export of goods; technology import and export; Technical Services, Technology Development, Technical Consulting, Co., Ltd. Sucheng Sub-branch Guarantee 2025/10/23
technology exchange, technology transfer, technology promotion; battery manufacturing; battery sales; light
volt power generation equipment leasing; Solar power generation technical services (except those subject to approval in accordance with the law.)
Outside the project, independently carry out business activities with a business license in accordance with the law)
Trina Solar (often Sales of optoelectronic equipment, electronic components, electronic equipment, e-commerce (not allowed
6 states) optoelectronic equipment has Chen Ye engaged in value-added telecommunications, financial business), enterprise management consulting, business information consulting, wholly-owned subsidiary Trina Solar shares China Merchants Bank shares have RMB 50,000 joint and several liability 2025/2/28- No
Limited to the company entrepot trade, engaged in the import and export of goods and technology. [Subject to approval in accordance with the law Limited Company Changzhou Branch Guarantee Guarantee 2026/2/27
business activities can only be carried out after approval by relevant departments]
General items: manufacturing of special electronic materials; sales of special electronic materials; Electronic specialty
R&D of materials; Technical services, technology development, technical consultation, technical exchanges,
Trina Solar (Huai) Technology Transfer, Technology Promotion; photovoltaic equipment and components manufacturing; Photovoltaic Equipment & Trina Solar Joint and Several Liability of Cinda Financial Leasing 2025/2/28-
7 An) photovoltaic materials have He Jie components sales; sales of solar thermal utilization products; Solar Thermal Utilization Equipment Sales Wholly-owned Subsidiary Shares Limited Company RMB 30,000 Guarantee 2028/3/31 No
Limited to company sales; mechanical and electrical equipment manufacturing; manufacturing of special equipment for semiconductor devices; semiconductor
sales of special equipment for devices; manufacturing of non-metallic mineral products; Non-metallic minerals and products
Sale; technology intermediary services; import and export of goods; Technology import and export (except as required by law.)
In addition to the approved projects, independently carry out business activities with a business license in accordance with the law)
Leonardo
Trina Solar Lotti,Jo is principally engaged in the construction and installation of solar photovoltaic power plants and the development of power plants BANCO SANTANDER JOINT AND SEVERAL LIABILITY 2/28/2025-
8 (Spain) se Maria Management & Maintenance, etc. Wholly-owned subsidiary Co., Ltd. S.A. EUR 1,380 Guarantee: 2/28/2026 No
Systems S.L.U Fernande
z Chaves
Licensed items: power generation business, transmission business, power supply (distribution) business (required by law.)
Approved projects can only be carried out after approval by relevant departments, specifically
Changzhou Luze New Energy Business projects are subject to the approval results) General items: technical services, technology development, Tianhe Fujia Energy Industrial Financial Leasing has joint and several liability 2025/2/18-
9 Yuan Co., Ltd. Tao Wenhao Technical consultation, technical exchange, technology transfer, technology promotion; Photovoltaic equipment and yuan holding subsidiary yuan shares limited liability company RMB 25,558 Guarantee 2034/2/18 No
device sales; solar power generation technical services; project management services; Energy Contract Inc
Management (except for projects subject to approval in accordance with the law, independently carried out in accordance with the law with a business license.)
Business Activities)
(Reference exchange rate February 28: EUR7.5045) is equivalent to a total of 329,915 yuan
Appendix II: Financial situation of the guarantor
Unit: 10,000 yuan
Total assets Total liabilities Net assets Operating income Net profit Non-net profit
sequence
Guaranteed Currency 2024 1-9 2024 1-9 2024 1-9
No. 2023.12.31 2024.9.30 2023.12.31 2024.9.30 2023.12.31 2024.9.30 2023 2023 2023 2023 2023
Month Month Month Month
1 Changzhou Tianhe Smart Energy Engineering Co., Ltd. RMB 538,074.10 664,343.61 396,748.02 507,091.08 141,326.07 157,252.53 428,388.05 380,241.96 23,464.07 27,018.90 23,798.04 27,882.04
2 Trina Solar (Suqian) Optoelectronics Co., Ltd. RMB 609,985.77 683,976.43 329,280.24 414,617.67 280,705.53 269,358.77 1,087,889.30 405,532.96 53,808.17 -9,214.16 53,833.04 -9,970.76
3 Trina Solar (Suqian) Technology Co., Ltd. RMB 933,337.62 586,305.87 726,133.26 404,509.14 207,204.36 181,796.72 1,623,525.60 621,251.46 3,326.85 -9,367.48 123.18 -13,243.49
4 Trina Solar (Changzhou) Optoelectronic Equipment Co., Ltd. RMB 410,339.97 250,974.88 322,624.63 166,209.41 87,715.34 84,765.48 1,658,960.16 499,731.78 2,547.93 -1,557.13 83,073.12 -1,560.64
5 Trina Solar (Huai'an) Photovoltaic Materials Co., Ltd. RMB 13,384.33 82,214.52 3,204.08 100,558.66 10,180.25 -18,344.14 2,136.74 114,427.76 161.81 -21,394.37 -114.86 -21,393.72
6 Trina Solar (Spain) Systems S.L.U. RMB 107,926.68 123,870.02 84,968.99 105,393.23 22,957.69 18,476.78 2,947.63 1,057.59 -1,049.59 -4,240.87 -1,049.59 -4,240.87
7 Changzhou Luze New Energy Co., Ltd. RMB - 174,944.99 - 173,167.79 - 1,777.20 - 7,195.15 - 1,777.20 - 1,777.21
Note: The above financial data are of the parent company.
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